Re: [ANN][♔] Britcoin 3 [BRIT] | 5% annual PoS | Always on TOR
I've noticed that the max coin supply (of 20 or 30 million coins) was never properly set, not even in Britcoin 1, so I plan to release a fix for that.
I can easily cap it at 30 million and have already written code to do that.
Does anyone have any thoughts about a "tail emission" to keep a smaller amount of coins being made for much longer after the 30 million limit is reached? What form should such a tail emission take? 0.5% annual interest rate? 0.05%?
Monero has a tail emission, as does Dogecoin. The reason tail emissions may be good is because:
- They encourage people to keep staking even after the main emission. (Without a tail emission, stakers only get the transaction fees of transactions they include in the blocks they create. But what happens if there are hours without any transactions? One might give up and stake a different coin instead.)
- Perhaps they help to restrict transaction fee inflation. ("I'm already getting money from staking so I guess I don't need to increase my fees
" ) Cash is one of the payment methods that Britcoin will compete with, which presently has zero fees (until cash machine operators decide to increase the fees).
- They can compensate for lost supply. Some Britcoins are lost every year, on purpose or by accident.
Mo
I can easily cap it at 30 million and have already written code to do that.
Does anyone have any thoughts about a "tail emission" to keep a smaller amount of coins being made for much longer after the 30 million limit is reached? What form should such a tail emission take? 0.5% annual interest rate? 0.05%?
Monero has a tail emission, as does Dogecoin. The reason tail emissions may be good is because:
- They encourage people to keep staking even after the main emission. (Without a tail emission, stakers only get the transaction fees of transactions they include in the blocks they create. But what happens if there are hours without any transactions? One might give up and stake a different coin instead.)
- Perhaps they help to restrict transaction fee inflation. ("I'm already getting money from staking so I guess I don't need to increase my fees
" ) Cash is one of the payment methods that Britcoin will compete with, which presently has zero fees (until cash machine operators decide to increase the fees).- They can compensate for lost supply. Some Britcoins are lost every year, on purpose or by accident.
Mo
It's going to take a long time before 30m available supply is reached. So with that in mind I'm going to say 0.05%, unless you can think of a reason why that's too low/high
Agreed. Nice work! We just need a better exchange now to possibly grab more attention
Thanks Peter
I'm hoping to get BRIT trading on livecoin.net soon, the listing fee is 2 BTC so I have to justify the cost before moving forward. Hopefully if things go to plan it will be listed sometime next week, then I will get BRIT/GBP trading on Cryptomate.co.uk. This will hopefully give Britcoin a bit more accessibility, since we'll have GBP/EUR/BTC deposit options, rather than just c-cex.
Sounds like a good plan. Is there a particular reason to get Brit listed on livecoin.net but not others?
I thought livecoin.net because they have different fiat deposit options - most importantly EUR, which would allow people to send SEPA deposits.
But last night I checked out what it takes to deposit EUR via SEPA and they really make it ridiculously difficult, they ask you for links to forum profiles and screen shots of trades on other exchanges etc. (https://ctrlv.cz/shots/2017/03/03/El5X.png)
So this is not really a viable option for people new to Britcoin and crypto in general, the reason I want an exchange that allows fiat deposits (GBP or EUR) is because when I tell people they need to buy Bitcoin to buy Britcoin it confuses them.
I've been reaching out to different exchanges all week, we'll see what comes of it. Do you have any in mind?